Personal accessories in 2024: The big picture
In 2024, the market for personal accessories in Thailand reflected a mix of recovery and ongoing challenges. Fine jewellery - particularly gold jewellery - saw something of a revival, contributing positively to the overall market.
2024 key trends
2024 saw polarisation alongside premiumisation within personal accessories in Thailand. While premiumisation has been prominent in bags and luggage, and traditional and connected watches, the overall industry has been facing challenges from Thailand’s macroeconomic conditions.
Competitive landscape
The competitive landscape for personal accessories in 2024 remained fragmented, with global brands maintaining leadership in the luxury segment. Iconic names such as Cartier and Gucci continue to hold strong sway.
Retailing developments
Retail in Thailand continues to evolve, reflecting a balance between in-store experiences and the expanding role of e-commerce. Consumers are returning to store-based outlets - especially for luxury items - driven by the desire to experience products in person and access in-store services.
What next for personal accessories?
The Thai personal accessories market faces ongoing challenges, including economic recovery, political uncertainty, inflation and the effects of recent flooding. However, several factors offer potential support, such as renewed consumer interest in shopping, increased tourism, premium product launches and advancements in digital transformation - including e-commerce innovations.
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Overview:
Understand the latest market trends and future growth opportunities for the Personal Accessories industry in Thailand with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Bags and Luggage
- Jewellery
- Watches
- Writing Instruments
If you're in the Personal Accessories industry in Thailand, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Personal Accessories in Thailand report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Personal Accessories in Thailand?
- Which are the leading brands in Personal Accessories in Thailand?
- How significant is tourism in determining sales and demand for Personal Accessories in Thailand?
- How are COVID-19 and global recession impacting demand for Personal Accessories in Thailand?
- In the wake of COVID-19, how soon can Personal Accessories be expected to recover? Where are the opportunities for growth now?
- Where is future growth expected to be most significant?
Personal Accessories in Thailand
Personal accessories in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for personal accessories?
DISCLAIMER
Bags and Luggage in Thailand
KEY DATA FINDINGS
K-Culture fever shapes demand for bags and luggage in 2024
Brands use localisation strategies to market products, while discounts and promotions remain important
Sustainability continues as key focus for consumers and brands
Forecast period to see continued development for store-based retailing
Local players set to expand within competitive landscape
Luxury bags will see growth in second-hand market, while players invest more in innovation
Jewellery in Thailand
KEY DATA FINDINGS
Gold jewellery continues drives overall category growth in 2024
Dynamic landscape boosted by leading players
Lab-grown diamonds no threat to natural diamonds
Continued player investment ensures positive forecast period for jewellery
Collaborations anticipated to become more prevalent, and lab-grown diamonds set to remain niche in Thailand
Omnichannel strategies will see greater investment as players work towards providing seamless experience to consumers
Traditional and Connected Watches in Thailand
KEY DATA FINDINGS
New brands and collections energise category in 2024
Sales soar for second-hand watches
Exhibitions, pop-up stores and cafés expand across the country
Premiumisation trends set to drive overall category growth
Pre-owned luxury watch market will see accelerated expansion during forecast period
Further market polarisation expected for traditional and connected watches
Writing Instruments in Thailand
KEY DATA FINDINGS
Mixed trends are witnessed seen in writing instruments in 2024
Aggressive and price-driven promotions help sustain sales, along with increased focus on store-based retail
Premium products remain niche in face of accelerated digitalisation
Further fragmentation possible for writing instruments in Thailand
Premiumisation and new product developments will support positive performance
Expanding e-commerce will boost overall category growth
The following categories and subcategories are included:
Personal Accessories
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- Backpacks
- Business Bags
- Crossbody Bags
- Duffel Bags
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- Non-Luxury Handbags
- Luxury Handbags
- Wallet and Coin Pouches
- Other Small Bags
- Luggage
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- Costume Jewellery
- Fine Jewellery
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- Basic Mechanical Watches
- Mid Mechanical Watches
- High Mechanical Watches
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- Basic Quartz Analogue Watches
- Mid Quartz Analogue Watches
- High Quartz Analogue Watches
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- Basic Quartz Digital Watches
- Mid Quartz Digital Watches
- High Quartz Digital Watches
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- Basic Quartz Analogue Watches
- Basic Quartz Digital Watches
- Basic Mechanical Watches
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- Mid Quartz Analogue Watches
- Mid Quartz Digital Watches
- Mid Mechanical Watches
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- High Quartz Analogue Watches
- High Quartz Digital Watches
- High Mechanical Watches
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- Basic Activity Watch (Analogue)
- Mid Activity Watch (Analogue)
- High Activity Watch (Analogue)
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- Basic Activity Watch (Digital)
- Mid Activity Watch (Digital)
- High Activity Watch (Digital)
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- Basic Smart Wearables
- Mid Smart Wearables
- High Smart Wearables
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- Colouring
- Markers and Highlighters
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- Graphite Pencils
- Mechanical Pencils
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- Ball Point Pens
- Fountain Pens
- Roller Ball Pens
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- Pen Inkwells and Refills
- Pencil Lead Refills
- Other Writing Accessories
Personal Accessories
Personal Accessories refers to a diversified group of personal products including Bags & Luggage, Jewellery, Watches and Writing instruments.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Personal Accessories research and analysis database.
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